What Varmepumpeservice As does

Varmepumpeservice AS is a Norwegian private limited company founded in 2006, originally in Sykkylven (Sunnmøre) and now headquartered in Kristiansand, that operates as an authorized distributor of air-to-air and air-to-water heat pumps for the Norwegian residential and light-commercial market. The company distributes products from five international OEM brands — Mitsubishi Electric, Panasonic, Toshiba, Cooper & Hunter, and Fujitsu — covering flagship units such as the Mitsubishi Kaiteki 6300/6600, Panasonic Flagship HZ and NZ Etherea series, and Toshiba Daiseikai 10. Its catalog spans hardware (heat pumps, spare parts, installation materials, Airpatrol WiFi controllers) and recurring or attach services (a 5+9-year heat pump insurance product registered by dealers, and a 0% consumer financing program administered through Resurs Bank).

The company employs 16 staff and reaches end-customers through a nationwide network of over 200 certified dealers spanning all of Norway, from Kirkenes in the north to Kristiansand in the south. Revenue is generated primarily from hardware sales into the dealer channel, with transaction-fee revenue from financing referrals and managed-service revenue from the insurance product providing supplementary streams. Marketing is conducted through the company website, a savings calculator, an inspiration blog, Facebook, and an annual open-day event (Varmepumpedagen) at the Kristiansand showroom. FY2024 revenue was approximately 265 million NOK, with the company self-describing as one of Norway's leading heat pump suppliers. Operations are led by Managing Director Petter Ove Utgård, and the company is privately held with no disclosed external investors or parent entity.

Name

Varmepumpeservice As

Legal name

Varmepumpeservice AS

Website

https://varmepumpeservice.no

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

Varmepumpeservice AS is a privately held Norwegian authorized distributor of Mitsubishi Electric, Panasonic, Toshiba, Cooper & Hunter, and Fujitsu heat pumps, serving residential and light-commercial end-customers through a nationwide network of 200+ certified dealers from its Kristiansand headquarters.

Ownership category

akta.pro rank

Headquarters

HQ city

Kristiansand

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales

Revenue model

1. Heat Pump Sales: Sale of heat pumps from multiple brands including Mitsubishi Electric, Panasonic, Toshiba, Cooper & Hunter, and Fujitsu through the dealer network
2. Spare Parts: Sale of replacement parts for all distributed brands including circuit boards, fan motors, filters, and other components
3. Materials and Tools: Sale of installation materials including insulated copper pipes, wall brackets, channels, condensates products, electrical materials, air/water materials, covers, tools, pumps, safety equipment, and filters
4. Extended Warranty/Insurance: 5-year heat pump insurance with option to extend for additional 9 years, covering damage from lightning, storms, and snowslides. Dealers register insurance on behalf of customers.
5. Financing Services: Interest-free financing through Resurs Bank over 24 months with monthly administration fee of 79 NOK. Company facilitates financing partnerships but generates referral/service revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Varmepumpeservice AS is a Norwegian heat pump distributor that supplies air-to-air heat pump systems, installation materials, spare parts, refrigerant gas, and accessory products from multiple leading brands. The company serves a nationwide dealer network of more than 200 authorized dealers across Norway, complementing distribution with related services such as financing, insurance products, and technical support. Headquartered in Kristiansand and reporting 265 million NOK in revenue (2024) with 16 employees, the company acts as a central hub connecting global heat pump manufacturers with the Norwegian installer channel.

Product overview

Varmepumpeservice As is an official distributor of heat pumps in Norway, offering a comprehensive portfolio of products from five major brands: Mitsubishi Electric, Panasonic, Toshiba, Cooper & Hunter, and Fujitsu. The core offering consists of air-to-air heat pumps designed for heating, cooling, and air purification in residential and commercial settings. Key flagship products include the Mitsubishi Kaiteki series (known for i-See sensors and Plasma Quad filters), Panasonic Flagship HZ and NZ Etherea series (featuring nanoe X technology), and Toshiba Daiseikai 10 (with SCOP 5.5 and Nordic design). The company supports its product portfolio with complementary services including spare parts, installation materials (copper pipes, brackets, channels, tools), a 5-year insurance product, and financing options through Resurs Bank. With over 200 dealers nationwide and a main office in Kristiansand, the company positions itself as a full-service provider for heat pump solutions in the Norwegian market.

Differentiator

Problem solved

Functional benefit

Products and services

• Mitsubishi Electric heat pumps Air-to-air heat pump systems from Mitsubishi Electric distributed to Norwegian dealers and end customers through Varmepumpeservice AS.
• Panasonic heat pumps Air-to-air heat pump systems from Panasonic distributed to Norwegian dealers and end customers through Varmepumpeservice AS.
• Toshiba heat pumps Air-to-air heat pump systems from Toshiba distributed to Norwegian dealers and end customers through Varmepumpeservice AS.
• Cooper & Hunter heat pumps Air-to-air heat pump systems from Cooper & Hunter distributed to Norwegian dealers and end customers through Varmepumpeservice AS.
• Fujitsu heat pumps Air-to-air heat pump systems from Fujitsu distributed to Norwegian dealers and end customers through Varmepumpeservice AS.
• Heat pump installation materials and accessories Installation materials, mounting equipment, and accessory products for heat pump installation, supplied to dealers.
• Heat pump spare parts and refrigerant gas Spare parts and refrigerant gas for installed heat pumps, including a refrigerant gas handling fee, supplied to dealers and service partners.
• Heat pump insurance products Insurance products offered in connection with heat pump purchases, providing end customers with coverage and risk protection for installed systems.
• Heat pump financing solutions Financing arrangements that allow end customers to spread the cost of heat pump purchases, administered through Varmepumpeservice AS and offered via the dealer channel.

Quantifiable outcome

• Up to 60% savings on heating costs compared to electric heating
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, major, strategic and minor.

• Mitsubishi ElectriccoreChannel Partner/ Reseller/ DistributorOfficial distributor in Norway for Mitsubishi Electric heat pumps including popular Kaiteki, Azira, and Kirigamine models. One of the key branded partnerships.
• PanasoniccoreChannel Partner/ Reseller/ DistributorOfficial distributor in Norway for Panasonic heat pumps including NZ, HZ Flagship, and CZ series models with nanoe X technology.
• ToshibacoreChannel Partner/ Reseller/ DistributorOfficial distributor in Norway for Toshiba heat pumps including Daiseikai 10, Signatur, and Multisplitt Nordic models.
• Cooper & HuntermajorChannel Partner/ Reseller/ DistributorOfficial distributor in Norway for Cooper & Hunter heat pumps including Daytona, Arctic, and Supreme series models.
• FujitsumajorChannel Partner/ Reseller/ DistributorOfficial distributor in Norway for Fujitsu heat pumps and air conditioning units.
• AirpatrolstrategicOEM/ Whitelabel/ Licensing PartnerMain importer of Airpatrol WiFi control devices that enable remote control of heat pumps via smartphone, reducing energy consumption by up to 25%.
• MideaminorOEM/ Whitelabel/ Licensing PartnerImporter of Midea cooling systems for the Norwegian market.
• Alltek ASminorChannel Partner/ Reseller/ DistributorDrammen-based dealer of heat pumps mentioned in customer case study. Represents one of many regional dealers.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Carrier Global Corporation: Global HVAC manufacturer with Nordic presence (including via Toshiba Carrier). Comparable as an upstream brand competing for the same installer channel and end customers.
• Bosch Thermotechnology: European HVAC and heat pump manufacturer (incorporating the former IVT brand). Comparable as a brand-level competitor whose products are sold by distributors and installers in the Norwegian market.
• Daikin Norway: Global heat pump manufacturer with direct Norwegian operations. Overlaps with VPS in air-to-air and air-water heat pumps and could compete via direct sales or alternate distributor appointments.
• Viessmann Climate Solutions: German heat pump and HVAC manufacturer with European distribution. Competes in the same residential and commercial segments VPS serves, with comparable technology positioning.
• Mitsubishi Electric Living Environment Systems: One of VPS's five core brand partners and a global heat pump manufacturer. A structural counterparty risk — competing in the same end market while also supplying VPS through its distribution agreement.
• Panasonic Heating & Cooling Solutions: Another of VPS's five core brand partners and a major global heat pump manufacturer. Comparable as both a supplier and a competitive threat if Panasonic chose a different go-to-market in Norway.
• NIBE AB: Swedish heat pump manufacturer with a strong Nordic footprint. Comparable as a key heat-pump brand competing for the same Norwegian end customer, often through competing distributor networks.

Direct peers

• Vifte & Miljø AS: Norwegian HVAC and ventilation equipment distributor serving residential and commercial customers. Closely comparable to VPS as a multi-brand domestic distributor of climate-control equipment with a similar end-customer base.
• Ventistål AS: Norwegian ventilation and indoor-climate solutions distributor. Overlaps with VPS in indoor-air-quality products, ducting, and installation materials for residential and commercial projects.
• Thermex Scandinavia: Nordic-headquartered ventilation and indoor-air-quality specialist. Comparable go-to-market as a branded HVAC/IAQ distributor targeting the same residential and small-commercial customers in the Nordics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/varmepumpeservice.as
• LinkedInlinkedin.com/company/varmepumpeservice-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Varmepumpeservice As